Tenere Capital LLC Acquires Shares of 17,900 Equinix, Inc. (NASDAQ:EQIX)

Tenere Capital LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 17,900 shares of the financial services provider's stock, valued at approximately $16,878,000. Equinix accounts for about 4.5% of Tenere Capital LLC's portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kestra Investment Management LLC acquired a new stake in Equinix in the fourth quarter valued at about $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $42,000. Thompson Investment Management Inc. acquired a new position in Equinix during the fourth quarter worth $47,000. Finally, Key Financial Inc raised its position in Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Charles J. Meyers sold 3,562 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the sale, the chairman now owns 15,513 shares in the company, valued at approximately $14,412,197.52. The trade was a 18.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,040 shares of company stock valued at $6,547,068. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Oppenheimer upped their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Scotiabank dropped their target price on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday. Mizuho decreased their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company decreased their target price on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $1,004.94.

Equinix Trading Up 2.6 %

Shares of Equinix stock traded up $20.91 during trading hours on Friday, reaching $838.10. 605,304 shares of the company's stock were exchanged, compared to its average volume of 550,655. The firm has a market capitalization of $81.98 billion, a price-to-earnings ratio of 98.02, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a fifty day moving average of $835.22 and a 200-day moving average of $895.02.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.24%. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix's payout ratio is presently 219.42%.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.